Standard Chartered Bank: Bitcoin Could Hit $100,000 by End of Year

BlockBeats News, August 20th - Standard Chartered Bank analyst Geoff Kendrick stated that Bitcoin could rise to $100,000 by the end of 2026. The current key technical level is $65,500, and if this level is surpassed, it may confirm the bottom of this cycle. He said, "Investors should now position themselves for Bitcoin to rise to $100,000 by the end of 2026."

In addition to the Bitcoin four-year cycle factor, Kendrick also mentioned that the U.S. Department of the Treasury recently announced an expansion of the maximum scale of liquidity support for some long-term Treasury repurchase operations. The maximum single-day repurchase amount for 10-20 year and 20-30 year nominal coupon Treasury securities will increase from $20 billion to at least $40 billion. The expansion plan will be implemented from September 9th to November 4th.

After the announcement, the yields on U.S. long-term Treasury bonds significantly declined, easing some of the pressure from the previous bond sell-off on the financial markets. Kendrick stated that the U.S. Treasury's move this time is "the type Bitcoin likes" and pointed out that Bitcoin has often benefited from government liquidity interventions.